Kernel Group Holdings, Inc.: Nasdaq/NYSE listing notice — Kernel Group receives Nasdaq delisting notice for MVLS below $35M minimum

Kernel Group Holdings, Inc.

Nasdaq notified Kernel Group Holdings that its Market Value of Listed Securities was below $35M for 32 consecutive business days.
Company has 180 days, until October 29, 2024, to regain compliance with Nasdaq Listing Rule 5550(b)(2).
If not compliant by the deadline, securities may be delisted; company can appeal to a Hearings Panel.
Company will monitor MVLS and evaluate options but makes no assurance of regaining compliance.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Kernel Group Holdings, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2), 5550(b)(1), 5550(b)(3), 5810(c)(3)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2), 5550(b)(1), 5550(b)(3), 5810(c)(3)(C)

Exact text from the filing

May 2, 2024, Kernel Group Holdings, Inc. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 32 consecutive business days, the Company’s Market Value of Listed Securities (“MVLS”) was below the minimum of $35 million required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rules 5550(b)(2) (the “Market Value Standard”). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rules 5550(b)

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Source: SEC EDGAR

accession 0001493152-24-017711

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